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Payment mechanisms are crucial to the success of any online firm. Knowing which payment options clients prefer can help online retailers enhance conversion. Genome, a financial platform founded in Lithuania, compiled a list of Europe’s current trends and most popular approaches.

The payments sector is continually evolving, and because of this, companies were forced to adapt and go online when nationwide lockdowns began in 2020. The epidemic accelerated payment patterns. Genome, a financial platform founded in Lithuania, compiled a list of the most significant market shifts and conditions across Europe. 

To mention a few, electronic payments are becoming more frequent, mobile payments and digital wallets are getting more popular, and contactless payments are being used in non-retail contexts. Customers had to utilise payment terminals that delivery agents brought or request delivery to lockers to avoid spending actual money in nations where cash-on-delivery was still common.

Payment Methods for eCommerce are Rising

Financial services are becoming increasingly digitised, allowing for faster, more user-friendly features for users and the emergence of new companies. The introduction of the Payment Services Directive Two (PSD2) in Europe had a crucial role in this. The Directive stimulated the use of online banking instruments and increased the security of online buying. Clients may now take use of third-party suppliers for more convenient and secure banking services.

What Payment Methods are Popular in Europe Now?

After PSD2 introduced the Payment Initiation Services (PIS) to facilitate electronic transactions, additional third-party payment services are projected to emerge. But what are the most popular payment options in Europe right now?

The United Kingdom

When making online payments, British customers still prefer to use debit and credit cards. It’s no surprise that 69 percent of individuals have credit cards. Ecommerce companies also make a strong case for cards as the preferred payment method: Clients can utilise Visa or Mastercard in 99 percent of cases. American Express is accepted by more than 60% of businesses.


Open invoicing are common here, and their popularity is only likely to grow to 35% by 2023. Aside from that, online retailers typically allow customers to pay using Visa, Mastercard, cash in advance (66 percent), digital wallets, and the Sofort payment service. 


In general, cards are the most popular online payment option in France. The national Carte Bleue is frequently used by customers. Other card kinds, such as American Express and Visa, are less common but still exist. Digital wallets aren’t as ubiquitous as physical wallets, and they’re mostly used in mobile commerce.


For the time being, debit and credit cards are the most popular payment methods, with digital wallets coming in second. By 2023, it is projected that card usage will begin to decline, with digital wallets and bank transfers taking precedence.

The Netherlands

The local online payment option iDeal, which has proliferated across the nation in recent years, is preferred by the majority of clients. Digital wallets and cards come in second, with Mastercard, Visa, and PayPal being the most popular. When it comes to online payment methods, the Netherlands has a wide range of options. There are alternatives for direct bank payments, invoicing, post-payment solutions (Klarna, AfterPay), and cash on delivery.

What this Means for the eCommerce Industry 

According to current figures, credit and debit cards continue to reign supreme among payment methods in a number of European nations. But it’s also evident that the payment methods environment is shifting, owing to a variety of circumstances. Alternative payment options are becoming more popular in Europe, and it is critical for online retailers to adopt them.

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